U.S. CitiesCity-Data Forum Index
Happy Easter!
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-02-2018, 02:48 PM
 
2,360 posts, read 1,026,502 times
Reputation: 2071

Advertisements

Quote:
Originally Posted by skeddy View Post
let's start defining what some people can buy or can't buy huh?

Well if your in a area where their is a need for housing, and you got all this property just sitting their and not being resold or rented, then its useless for the need of the community. Just be glad they are not pushing eminent domain on them. If your not going to do anything with the property NOW or near future, then dont buy it. Let some other poor boy have a gander at it and live in it. These out of state and country investors is part of the housing situation in high volume areas. Sitting on them, is not doing anything good for the community, and not sure how its making you money by being empty as well?
Reply With Quote Quick reply to this message

 
Old 05-02-2018, 02:56 PM
 
8,374 posts, read 7,362,552 times
Reputation: 18229
Fact: Investors buying homes in most areas. Then they rent them to those that cannot afford to buy a home.

Fact: If there were not rentals available, where are the new college graduates just starting their first job, and those that cannot afford to buy a home, going to live. There have to be rentals for those that cannot for one reason or another buy their own home. There has to be housing for everyone.

Fact: And those that own homes and/or apartment houses that they rent out, have increasing expenses every year, and just cannot afford to not increase rents.

Fact: People going to an auction hoping to buy a home real cheap, are going to have to be the top bidders for those cheap homes. Landlords go to the auction, knowing how much they can afford to pay for a certain house. If you want to be the successful bidder, you are going to outbid all the other bidders, regardless of why they are buying homes.
Reply With Quote Quick reply to this message
 
Old 05-02-2018, 05:32 PM
 
2,360 posts, read 1,026,502 times
Reputation: 2071
Quote:
Originally Posted by oldtrader View Post
Fact: Investors buying homes in most areas. Then they rent them to those that cannot afford to buy a home.

Fact: If there were not rentals available, where are the new college graduates just starting their first job, and those that cannot afford to buy a home, going to live. There have to be rentals for those that cannot for one reason or another buy their own home. There has to be housing for everyone.

Fact: And those that own homes and/or apartment houses that they rent out, have increasing expenses every year, and just cannot afford to not increase rents.

Fact: People going to an auction hoping to buy a home real cheap, are going to have to be the top bidders for those cheap homes. Landlords go to the auction, knowing how much they can afford to pay for a certain house. If you want to be the successful bidder, you are going to outbid all the other bidders, regardless of why they are buying homes.
1. Yes, but most sit empty for one reason or another for a very very long time. Some are just too stubborn to lower the price because others are not. If they are empty, then seems the price is too high for it? One would think to lower it till it comes affordable for a family/person. Where i live, their is a house that been empty for 2 years solid, city puts a notice on the door when grass gets to high and threatens to take over. Then he comes out and mows it, but then keeps the for rent sign up. I offer him a reasonable price but he just refuses.

2. I agree with that, but forcing them to live like cattle under one roof due to cost is another issue.

3. To me its cost of doing business that you eat not pass on. If it becomes a break even playing field, then adjust a cushion.

4. This is pure BS in my option. Some family goes to these auctions in hope of getting a decent place to live with out over paying another middle guy for the same property. Its hard to compete against big companies and realters when they have the funds to out bid anybody, mean while poor millers have to wait again for next auction and hopes and dreams out the door. Some of these auctions will post no dealers, but we know their will always be one in every crowd to drive up the cost. Needs to be a better system in place for this so we all have same level playing field. Yea you can put it back on the market and hope to get a offer, and if the same person that wanted the house knows how much you pay for it, well guess what their offer is going to be.. it wont be more then what u paid for it thats for sure.

*Reason why most cant get a home is due to the high cost of the home because of all the markups between the builder and the resellers. If the original cost after the builder is 60k then how does it jump to 200k? Answer is too many middle men and their margins.

Last edited by hitpausebutton2; 05-02-2018 at 06:11 PM..
Reply With Quote Quick reply to this message
 
Old 05-02-2018, 08:59 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,109 posts, read 3,400,520 times
Reputation: 5633
Quote:
Originally Posted by hitpausebutton2 View Post
na that when you tell your neighbor they are getting ripped off and demand that they pay the 900 a month. Because if the property management can advertise cheaper rent to get you in the place, consistently, then they can keep it at that rate, not increase it on the next renewal. Sorry, i can spot bait and switch price schemes a mile a way.
sorry my comment was sarcasm, you don't get it.
Reply With Quote Quick reply to this message
 
Old 05-02-2018, 09:01 PM
 
5,220 posts, read 2,375,434 times
Reputation: 5111
A landlord attempting to get the most that he can for his property, and a tenant wanting to pay the least amount possible, are simply two sides of the same coin. Neither side is greedy, and neither side occupies the moral high ground. Attempting to assign some sort of blame to landlords in this situation is simply wrong.
Reply With Quote Quick reply to this message
 
Old 05-02-2018, 09:13 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,109 posts, read 3,400,520 times
Reputation: 5633
Quote:
Originally Posted by hitpausebutton2 View Post
Ask you same question, if the hassle of become a LL sucks, then why do it? Why not have a job and focus on your own home instead of buying up other houses that could have went to the lessor fortunate person? Isnt it "Cost of doing business" to eat up some things for the business? Why not just sell the property so you dont have to worry about keeping up with "the jones aka "market". Just because others around you are jacking it up, doesnt mean you have too, does it?

I just went to a housing auction last weekend in our county, and their was TONS of property management people their. All of them were bidding to see who can pay the most. Win for the county, loser was the poor family that found a house for really good deal for 45k 900sq.3/1. But soon as it come up for auction at the end, hoping they didnt have any buyers left over.. end up going for 85k. Its on the market for rent now, 1200 a month. It really ticked off alot of people at the auction that came to buy a house for themselves only to be out bid by investors that will never step a single foot in it. Fix what is needed to be at code cheap as possible and put it on the market quickly.
Yup, I remember your other threads. You don't get it. You can only understand that everything is against you. The rest of the world seems to spend a lot of time plotting all this.
"All bidding to see who can pay the most" Right they all wanted to pay as much as they could. That's how an auction works for buyers.
You have a hard time understanding how the world works. Things sell to the highest bidder. That could be a first time homeowner, investor, or company. Seems like a first time homebuyer could have bid $86K if they really wanted it, so don't blame whoever wound up buying it.
You also have a hard time understanding how the market works. Why aren't you complaining to Gas stations about how much they charge. Just because all of them charge $3 a gallon doesn't mean one down the street can charge $2 a gallon if they really want. Why don't you ask a gas station owner this?
I really want a Ferrari for $50K but too many rich people are willing to pay $200K for it. Really ticks me and all of us off that we couldn't buy it for cheap . . . it's just not fair. Ferrari didn't have to charge $200K just because lamborghini and Aston Martin did. They just do it to keep up with the Joneses as you say.

But you are right. This poster should just sell it as you say. Then maybe a big corporation will buy it from him and raise up rents even more.
Reply With Quote Quick reply to this message
 
Old 05-03-2018, 01:38 AM
 
1,040 posts, read 541,941 times
Reputation: 1609
Quote:
Originally Posted by hitpausebutton2 View Post
So recently good friend of mine got pushed out of his apt due to rent increase, i know its basic of price and demand, but in the middle is greed? Seems to be a never ending issue, so how does it ever end? Excuses always been find a better job, move out and commute. But the problem still follows. Move out 20 miles to find greener grass, only to be push out again when the city gets bigger and LL keeps raising rents. Think this will ever end? Push out the lesser paying person for the better person that is willing to pay your demanding non-negotiable price?
On March 24, 2018 in the Texas forum you posted:

"So took a stroll through these new up coming housing developments and price range from 100-250k depending on your choice.. i have to ask my self what in the heck does these people do for a living? I know we have the military, but even they dont pay enough to buy these houses, even the hospital doesnt pay that much. So what is paying you $20+ hour to afford these homes? I work in austin, but still just able to break even.. And i make 40k year."

There are houses for sale near you for 100k? And you're upset about the price of housing? Do you know how many citizens would be thrilled to be in your place? The Feds have a bunch of homebuyer plans for "the lesser paying" people. Banks too, even the notorious Wells Fargo.
Reply With Quote Quick reply to this message
 
Old 05-03-2018, 06:21 AM
 
770 posts, read 563,433 times
Reputation: 1475
Quote:
Originally Posted by hitpausebutton2 View Post
So recently good friend of mine got pushed out of his apt due to rent increase, i know its basic of price and demand, but in the middle is greed? Seems to be a never ending issue, so how does it ever end? Excuses always been find a better job, move out and commute. But the problem still follows. Move out 20 miles to find greener grass, only to be push out again when the city gets bigger and LL keeps raising rents. Think this will ever end? Push out the lesser paying person for the better person that is willing to pay your demanding non-negotiable price?
You wanted to be in the boat that says buying a home is a waste of money .. how does a 30 year fixed mortgage look now ?

I know what my house payment will be for the next 30 years, but I don't know what rent will be. ..
Reply With Quote Quick reply to this message
 
Old 05-03-2018, 07:33 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,109 posts, read 3,400,520 times
Reputation: 5633
Quote:
Originally Posted by LiaLia View Post
On March 24, 2018 in the Texas forum you posted:

"So took a stroll through these new up coming housing developments and price range from 100-250k depending on your choice.. i have to ask my self what in the heck does these people do for a living? I know we have the military, but even they dont pay enough to buy these houses, even the hospital doesnt pay that much. So what is paying you $20+ hour to afford these homes? I work in austin, but still just able to break even.. And i make 40k year."

There are houses for sale near you for 100k? And you're upset about the price of housing? Do you know how many citizens would be thrilled to be in your place? The Feds have a bunch of homebuyer plans for "the lesser paying" people. Banks too, even the notorious Wells Fargo.
The op is acting like $40k is a considerable income, esp to buy a house. In the scheme of things he is not making that much. Really in the us $100k is not expensive housing.
If he sees houses for $100k the problem is not that the landlords are being greedy, the problem is with the op.
With good credit and a down payment of 20% his mortgage would be less than 400 a month. If he still can't do it he should get a part time extra job which should do the trick.
The problem is with the op, not anything or anyone else. He should spend the time bettering his position instead of always complaining how greedy everyone else is.
I'm starting to wonder if the op is related to our old pal frmkt.
Reply With Quote Quick reply to this message
 
Old 05-03-2018, 10:19 AM
 
Location: Omaha, Nebraska
6,297 posts, read 3,474,966 times
Reputation: 14916
Quote:
Originally Posted by aslowdodge View Post
The op is acting like $40k is a considerable income, esp to buy a house. In the scheme of things he is not making that much.
Very true.

Quote:
Really in the us $100k is not expensive housing.
Also true. In fact, using the old "no more than 3x your income" rule of home affordability, the OP could afford one of those $100k houses. And he doesn't even need to have a full 20% down; an FHA loan allows a down payment as low as 3%. He should start preparing to buy instead of complaining abut how he's being priced out of the market.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top